The U.S. soybean yield increased to 50.6 bu/ac compared to 50.0 bu/ac last month. We’re hearing similar talk in the soybean market. Some feel yields will increase as we move towards October. Others feel it’ll decrease. This will likely prevent either the bulls or bears from gaining a significant hand until we have better hand until we have a better idea on U.S. yields.
This graph is over the past 8 years and shows USDA’s estimate that comes out with each crop report. Last month USDA projected yield at 174.6 bpa. On Friday, USDA raised the yield by 1.7 bu to 176.3 bpa. Some feel that could go a little higher and others feels its overdone and it’ll work lower. That is what’s creating this mixed feeling and mixed trade in the grain markets as well.